Ethical Dimensions: Marketing
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Ethics in Banking — Ethics in Banking.
One-liners from this chapter
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How is 'ethical marketing' best defined in the context of banking?
Ethical marketing is aimed at promoting honesty, fairness and responsibility in advertising based on a set of laid-down guidelines.
What is the ethical obligation of a bank regarding the actions of its Business Correspondents (BCs)?
The bank is fully responsible for its BCs' actions and conduct.
What is the primary goal of ethical marketing in banking?
The primary goal is to promote honesty, fairness and responsibility in advertising and selling, ensuring customers are treated with integrity.
What must banks regularly provide to Business Correspondent staff to prevent mis-selling?
Regular training on the Fair Practices Code and ethical considerations.
Why is selling a product regardless of its suitability to the customer considered unethical in banking marketing?
Selling without regard to suitability constitutes mis-selling, which violates the ethical principles of fairness and responsibility toward the customer.
How can a bank use Facebook's database for marketing its education-loan product?
By targeting students of a specific university and age group in a city.
What role do laid-down guidelines play in ethical marketing within banking?
Laid-down guidelines provide the framework that governs honest, fair and responsible advertising and selling practices in banking.
What kind of marketing concept is used when a bank targets ads based on customer demographics on social media?
Targeted digital marketing using customer segmentation.
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